MIRA
INFORM REPORT
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Report Date : |
11.05.2007 |
IDENTIFICATION DETAILS
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Name : |
MAX |
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Registered Office : |
Wako Bldg 1-12-16 Jinnan Shibuyaku |
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Country : |
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Financials (as on) : |
31.07.2006 |
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Date of Incorporation : |
Jul
1988 |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Travel
agency, tour operator |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
Yen 9.1 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
MAX
REGD NAME
KK Ohshu Express
(Ohshu means
MAIN OFFICE
Wako Bldg 1-12-16
Jinnan Shibuyaku
Tel: 03-3780-5514
Fax:
03-3780-1296
URL: http://www.ohshu.com
E-Mail
address: info@ohshu.com
ACTIVITIES
Travel
agency, tour operator
LICENSE
Tokyo
Governor Travel Agency License No. 3-3705, good until 13/Jul/2010
BRANCHES
OVERSEAS
OFFICERS
YUKIO
SHINOZAKI, PRES
Ryoko
Shinozaki, dir
Yoriko
Ogasawara, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,217 M
PAYMENTS REGULAR CAPITAL Yen 41 M
TREND UP WORTH Yen 24 M
STARTED 1992 EMPLOYES 10
COMMENT
TRAVEL AGENCY & TOUR OPERATOR. FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 9.1 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established originally in 1985 by Yukio
Shinozaki in order to make most of his experience in the travel business, on
his account. Incorporated in 1992, the
firm is a travel agency and tour operator, licensed No.3-3075 from the Tokyo
Governor. This is a travel agency and tour operator,
owned and operated by the Shinozaki family, specializing in offering & organizing tours,
hotels, rails, others centrally in
FINANCIAL INFORMATION
The sales amount for Jul/2006 fiscal term amounted to Yen 1,217 million, 23% hike from Yen 988 million in the previous term. Clients increased, also aided by the weaker Yen against Euros, which pushed the sales amount upward in Yen terms. The net profit, on the other hand, decreased to Yen 5 million from Yen 9 million a year ago, due to rising costs of operations. The firm reports Yen 17 million as accumulated losses at the end of the term.
For the current term ending Jul 2007 the net profit is projected at Yen 7 million, on a 7% rise in turnover, to Yen 1,300 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 9.1 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Jul 1988
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 3,280 shares
Issued: 820 shares
Sum: Yen 41 million
Major shareholders (%): Yukio
Shinozaki & families (--100)
No. of shareholder(s): 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Travel agency & tour operator, licensed
No.3-3705 from the Governor of Tokyo (100%).
Offers and arranges overseas hotels, bus tours, sightseeing, rails, subways, restaurants, guide (language, etc), cruising, wedding, other related services.
Also
provides Japanese travel agencies with tour-handling services.
Clients:
Travel agents, travelers, students, business firms, other
No. of
accounts: 300
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers:
Airlines, travel agencies, rails, tour operators, other, covering 17 countries
in
Payment
record: Regular
Location: Business area in
Bank References
MUFG
(Toranomon & Shibuya-Meijidori)
Relations:
Satisfactory.
FINANCES
(In
Million Yen)
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Terms Ending: |
31/07/2006 |
31/07/2005 |
31/07/2004 |
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Annual
Sales |
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1,217 |
988 |
957 |
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Recur.
Profit |
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9 |
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Net
Profit |
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5 |
9 |
11 |
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Total
Assets |
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245 |
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Current
Assets |
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201 |
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Current
Liabs |
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131 |
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Net
Worth |
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24 |
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Capital,
Paid-Up |
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41 |
41 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
23.18 |
3.24 |
4.02 |
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Current Ratio |
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.. |
153.44 |
.. |
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N.Worth Ratio |
.. |
9.80 |
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R.Profit/Sales |
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.. |
0.91 |
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N.Profit/Sales |
0.41 |
0.91 |
1.15 |
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Return On Equity |
.. |
37.50 |
.. |
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Note: Digested financials are available for the 31/07/2005 fiscal term only, otherwise only partial and limited.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)